Regular Savings Accounts Article Discussion

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  • nzseries1
    nzseries1 Posts: 2,240 Forumite
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    I just opened my Halifax 10% Regular Saver online right now (I already had a Halifax Credit Card so I could apply online). :money:

    Account was opened in less than 60 seconds, and my first bank transfer from HSBC took less than 2 minutes to appear in my new account! I had a new account with cash in it in just a few minutes, without leaving my computer and without having to send in any ID! The most simple account opening I've ever had. :D

    Elsewhere on the boards people complain about Halifax's bad customer service. Let's hope I never find out about it the hard way. :rolleyes:

    Thanks moneysavingexpert.com! Shame there was no link I could use that helped the site :(
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • nzseries1
    nzseries1 Posts: 2,240 Forumite
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    Can anyone tell me, for the halifax regular saver, what is "a month" exactly? I opened my account today (June 12) and put in my £500 - when can I next put in £500? Would it be July 1, or July 12?

    I looked on the Halifax website but it's not clear. It seems to suggest "a month" is a calendar month. But if that were true, technically I could put in 13 payments of £500.
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • Paul_Herring
    Paul_Herring Posts: 7,481 Forumite
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    nzseries1 wrote: »
    Can anyone tell me, for the halifax regular saver, what is "a month" exactly?
    From the T&C's, a 'month' is a contiguous period starting on the 1st and ending on the 28th of any calendar month.

    Exactly one payment must be made at any time in each 'month' for the duration of the RS.
    I opened my account today (June 12) and put in my £500 - when can I next put in £500? Would it be July 1, or July 12?
    You can put your second lot in on the 1st July. Or the 2nd. Or anytime such that it arrives at Halifax by the 28th.
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
  • nzseries1
    nzseries1 Posts: 2,240 Forumite
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    Paul_Herring wrote: »
    From the T&C's, a 'month' is a contiguous period starting on the 1st and ending on the 28th of any calendar month.

    Thanks so much. I figured it would be in the T&C's, but blind old me couldn't find them anywhere!
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • ctdctd
    ctdctd Posts: 1,080 Forumite
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    nzseries1 wrote: »
    Can anyone tell me, for the halifax regular saver, what is "a month" exactly? I opened my account today (June 12) and put in my £500 - when can I next put in £500? Would it be July 1, or July 12?

    I looked on the Halifax website but it's not clear. It seems to suggest "a month" is a calendar month. But if that were true, technically I could put in 13 payments of £500.

    July 1st - cos this is how mine was set up by the Halifax
    Do Money Saving sites make you buy more bargains - and spend more money?
  • ctdctd
    ctdctd Posts: 1,080 Forumite
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    ctdctd wrote: »
    July 1st - cos this is how mine was set up by the Halifax

    Whoops - seems to be a lag in the Internet - Paul's earlier reply wasn't there when I replied as well!
    Do Money Saving sites make you buy more bargains - and spend more money?
  • Crinz
    Crinz Posts: 181 Forumite
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    D.A. wrote: »
    My wife already has a Halifax Regular Saver account. I'm wondering if the 10% rate only applies to new customers, or existing ones?

    i work for hbos (no abuse please lol). if your wifes regular saver has already started then it will be on the previous rate (i think 7%). if it is due to mature at any point in the next month or so then she will get the 10% rate for the year when she renews

    the rate is fixed when you take this type of account so it isnt changed if you are part way through your year

    hope this helps
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Paul_Herring
    Paul_Herring Posts: 7,481 Forumite
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    Crinz wrote: »
    i work for hbos. if your wifes regular saver has already started then it will be on the previous rate (i think 7%). if it is due to mature at any point in the next month or so then she will get the 10% rate for the year when she renews
    'month or so'?

    So those maturing 7% accounts maturing in the period that 10% are being offered will automatically be upgraded to 10%?

    May I point you in the general direction of the 6% LTSB Current Plus thread? (Where existing Current Plus holders getting 4% don't get the 6% unless they specifically apply.)
    the rate is fixed when you take this type of account so it isnt changed if you are part way through your year
    Covered earlier in the thread. One post pointed out that even if your 7% expired the day after the 10% closed, you'd be better off closing the 7% to get the 10% if you could afford the £500 per month.
    hope this helps
    Not really. An online reference to T&C's confirming your first statement would be useful though....

    Given your vague statements I'm guessing that you are either customer facing staff who hasn't been told what the T&C's are but just a general 'we're doing this 10% thing - here's how it sort of works' or not real an HBOS employee stirring.
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
  • Crinz
    Crinz Posts: 181 Forumite
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    whats the point in coming here to try help. never again!

    Yes, I am front-line staff working in a branch in Glasgow but i take offence at you incinuating that i know nothing about what I am writing about.

    When this launched the other day we had loads of people coming in asking about their existing Regular Savings. Some I closed down and restarted as they matured and restarted just weeks ago, and some were just about to end and would automatically convert to the 10% rate.

    http://www.halifax.co.uk/savings/regularsaver.asp

    quote: When the year’s up, your savings and interest are transferred into a nominated savings account which you'll be asked to open when you open you Halifax Regular Saver. Your Regular Saver account remains open, the interest rate applicable at the time is fixed for another year and you simply continue to save.


    when i said 'month or so' - at the moment the plan is for this promotion to be on display in branch etc until End July but as with other banks, it can be withdrawn at any time.


    again, thanks for the warm welcome.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • ibrooks
    ibrooks Posts: 10 Forumite
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    Lavendyr wrote: »
    Yes, the calculator linked to in the OP will help you. :)

    No it won't because it doesn't have a facility to vary the monthly payments over the period.

    Mr Herring however has got me where I wanted to go though - thanks.
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